Jade Capital Advisors LLC Purchases New Shares in Rockwell Automation, Inc. (NYSE:ROK)

Jade Capital Advisors LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the industrial products company’s stock, valued at approximately $1,611,000. Rockwell Automation comprises approximately 1.0% of Jade Capital Advisors LLC’s investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Rockwell Automation by 951.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock valued at $1,611,915,000 after acquiring an additional 5,006,706 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Rockwell Automation by 1,119.3% during the 2nd quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock valued at $210,135,000 after purchasing an additional 700,745 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Rockwell Automation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after purchasing an additional 438,356 shares during the period. Swedbank AB purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $118,345,000. Finally, Champlain Investment Partners LLC grew its position in Rockwell Automation by 82.4% during the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after buying an additional 388,400 shares during the period. 75.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ROK. Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley began coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. TD Cowen lowered their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $286.47.

Rockwell Automation Stock Down 1.1 %

Shares of NYSE:ROK opened at $269.94 on Tuesday. The company has a market cap of $30.77 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The firm has a fifty day moving average price of $265.29 and a two-hundred day moving average price of $267.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that Rockwell Automation, Inc. will post 9.67 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a share buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.